Forecasting in Hotel Revenue Management

This course explores the role of the forecast in a revenue management strategy and the positive impact that forecasting can have.

Successful revenue management strategies hinge on the ability to forecast demand and to control room availability and length of stay. This course explores the role of the forecast in a revenue management strategy and the positive impact that forecasting can also have on staff scheduling and purchasing.

During this course you’ll get a step-by-step approach to creating an accurate forecast as you learn how to build booking curves, account for “pick-up”, segment demand by market, group, and channel, and calculate error and account for its impact.

The course Introduction to Hotel Revenue Management  should be completed prior to starting this course.

What will this course cover?

Forecasting in Hotel Revenue Management course will include:-

• How to explain the role of forecasting in hotel revenue management
• Ways to create a forecast and measure its accuracy
• Establish or recommend room rates that maximize profitability
• Apply length-of-stay controls to your hotel

Who should complete this Course?

• Hospitality professionals responsible for improving the financial performance of their organizations
• Front desk managers, night auditors, and sales and marketing analysts who want to take on more responsibility for improving profitability in their property
• Those who aspire to hospitality management positions and need a strong foundation of revenue concepts

Format

The interactive e-learning course allows you to study at your own pace, acquiring all of the necessary skills and knowledge easily as you progress through the various sections. Test Your Knowledge questions will reinforce your understanding as you go, and at the end of the course you will need to complete and pass a multiple-choice quiz to obtain your certificate.

Duration and Time Limit

This course can be completed in approximately 3 hours from start to finish, although you can do it in your own time.

Certificate

Upon successful completion of this Institute of Hospitality endorsed course, students will receive their PDF certificate.

We only work with the very best

Our training courses are written and managed by hospitality professionals with many years experience in their field. You will be learning from the best and you will come away from your training inspired by mentors who understand your aspirations and requirements.